Saudi real estate funds’ assets down 14 per cent in Q3
The assets of private and public real estate funds in Saudi Arabia dropped by 14.4 per cent or SAR600 million at the end of third of the quarter of the current year to SAR3.57 billion compared with SAR4.17bn in the same period last year.
However, the assets of these funds comprise 3.2 per cent of their investments, whose value amounts to SAR113.5bn, at the end of the third quarter, according to data compiled by Al-Eqtisadiah.
Property funds’ assets inched up by a marginal 0.2 per cent or SAR6m since the beginning of the current year.
In terms of number, there were ten public real estate funds with 5,567 shareholders at the end of the first half of the current year, down from 6,130 in the corresponding period of 2014.
The number of private real estate funds reached 33 at the end of the first half of the year with roughly 2,185 shareholders. The highest number of shareholders in private real estate funds was recorded at the end of the first half of last year with 2,811.
(SAR1 = AED0.98, at the time of publishing)